Guardian Partners Inc. Has $54.75 Million Stock Holdings in Royal Bank Of Canada $RY

Key Points

• Guardian Partners Inc. reduced its stake in the Royal Bank of Canada by 3.9% in Q1, now holding 481,621 shares valued at approximately $54.75 million.
• Goldman Sachs Group Inc. significantly increased its holdings in Royal Bank of Canada by 129.9%, now owning over 7 million shares valued at around $796 million.
• Royal Bank of Canada reported a quarterly earnings surprise, with earnings per share of $2.79, exceeding analyst estimates of $2.36, alongside year-over-year revenue growth of 16.1%.

Guardian Partners Inc. cut its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 481,621 shares of the financial services provider's stock after selling 19,357 shares during the quarter. Royal Bank Of Canada accounts for about 5.6% of Guardian Partners Inc.'s portfolio, making the stock its biggest position. Guardian Partners Inc.'s holdings in Royal Bank Of Canada were worth $54,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in Royal Bank Of Canada by 129.9% during the first quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider's stock worth $796,227,000 after buying an additional 3,990,839 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Royal Bank Of Canada by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock worth $7,048,307,000 after acquiring an additional 3,387,971 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Royal Bank Of Canada by 104.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider's stock worth $715,043,000 after acquiring an additional 3,244,266 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Royal Bank Of Canada by 8.0% in the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock valued at $1,892,975,000 after purchasing an additional 1,249,589 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Royal Bank Of Canada during the first quarter valued at about $114,327,000. Institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Argus upped their target price on Royal Bank Of Canada from $140.00 to $162.00 and gave the company a "buy" rating in a report on Friday, August 29th. Cibc World Mkts downgraded Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research report on Friday. National Bankshares reissued a "sector perform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Finally, CIBC downgraded Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $177.50.

Royal Bank Of Canada Trading Down 0.8%

Shares of RY opened at $144.58 on Monday. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $147.64. The business has a 50-day moving average of $134.93 and a 200 day moving average of $125.08. The firm has a market cap of $203.16 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.48 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.43. The firm had revenue of $12.26 billion during the quarter, compared to analyst estimates of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The company's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business earned $3.26 earnings per share. As a group, research analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current year.

About Royal Bank Of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

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